PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia noted today that consumer confidence has hit record highs—an amazing feat considering the negative news surrounding the markets and economy.
“Vehicle sales are about 1.56 million units for the month of May, with retail sales of new vehicles expected to drop on the year 3.1% to 1.226 million units,” Celia said. “That will obviously continue to be a problem for new auto sales and manufacturing, and I think these poor auto sales may become somewhat of a normalized rate of new car sales.
“The big question is the U.S.-China dispute—a dispute that has really taken a turn for the worse this month after President Trump announced he was boosting tariffs on another 200 billion of Chinese goods,” Celia added. “This news is ripping through global markets and continues to be a concern as China responds with its own heightened tariffs. On top of that are the Huawei tensions, with the U.S. announcing restrictions on Chinese telecom manufacturing. All this is a concern and will likely continue to be a concern for some time. My biggest issue is that once the economy—not the markets—begins to spiral downward, will we be able to do enough to slow down any kind of negative business sentiment that could be created? The best solution—let’s get a deal done ASAP and continue to move on to other areas of the world.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on about 650 television and radio stations nationwide.
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